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Despite being harmonised with the EU VAT legislation, the Bulgarian VAT rules are still specific and provide for a number of procedures and reporting requirements. The Bulgarian revenue authorities exercise strict control, while the administrative courts have their own and diverse interpretations of the EU VAT rules and the judgments of the Court of Justice of the European Union.

VAT may account for a substantial share of a company’s turnover and may raise significant risks for all businesses. The Bulgarian filing and payment deadlines are very short. Corrections of past periods are quite cumbersome, if allowed at all. Severe penalties may be imposed for delays in issuing or reporting invoices. Input VAT deductions may be challenged on the basis of insufficient evidence or vendor’s omissions.

The customs and excise duties are administered by the Customs Agency usually exercising strict and formal control over applicable regimes and procedures.

KPMG’s Indirect Tax team is devoted to provide you with a practical approach to various business situations and help you efficiently implement it in the Bulgarian environment.

We are able to review your company’s current VAT, customs and excise duty position, provide relevant advice and planning ideas, and help you with your administrative obligations and discussion with administrative authorities.

We are equipped with technology solutions to extract and analyse data from your ERP systems to identify errors, irregularities or overpayments.

We use a proprietary software, designed by the KPMG Tax team, to prepare Bulgarian VAT and Intrastat returns on the basis of data provided by your ERP system.

Our Bulgarian practice works closely together with Indirect Tax professionals in other EU and non-EU countries. For more information, please visit KPMG’s Global Indirect Tax website.

We have vast experience in supporting businesses in various indirect tax matters.

Indirect tax planning and advice

Planning of complex transactions and investments in terms of VAT, customs and excise effects